Pawlina Law can assist you with buying or selling an existing business. Having assisted with dozens of transactions, we have developed a calculator which attempts to give you an estimate of the legal fees you might incur when buying or selling a business in Ontario or Canada; whether buying or selling a business or an asset purchase or share purchaser. Generally, the amount of legal fees spent on buying or selling a business, will be dependent on the time spent on the transaction by a lawyer.
Having an experienced business lawyer will help your transaction go smoothly. With any business purchase, you should have a buy-and-sell agreement, signed by both parties, that spells out the demands and obligations of each, as well as the terms of the agreement (for example, non-competition provision). Information on what to consider when buying a business can be found here.
When selling property in Ontario, the seller can expect to paid between 3%-5% of the property value to the agents on the transaction. Additionally, the seller and buyer will need to pay a couple thousand dollars each to lawyers to implement the transaction. Buying or selling a business is similar. However, there are no set forms or templates for buying businesses in Ontario. Tax considerations when buying or selling a business in Ontario are also extremely important.
Most importantly, as each transaction is different and unique, any results produced by this calculator are only an preliminary estimate. Moreover, this calculator assumes that there are no further developments or information which would cause us to vary our preliminary opinion and that nothing out of the ordinary is encountered in the course of completing a transaction. There is no guarantee with respect to the estimate provided by the calculator.
If your transaction is over $1 million dollars, please contact us to book a complimentary call and get an accurate estimate.
Outcomes may vary according to the facts of individual cases. For a more detailed estimate, please Contact Us to book a complimentary call. The results provided by this calculator is not legal advice and should not be relied on as such. Accessing this calculator does not create a lawyer-client relationship or fiduciary relationship between you and Pawlina Law or any of its lawyers.